Market Analysis:
The Sebacic Acid Market is predicted to grow at a favorable CAGR between 2017-2023, reveals the latest Market Research Future (MRFR) report. Sebacic Acid, also called decanedioic acid is a granular powder which in its purest form, is white in color. It is usually derived from castor oil as the process is cost-effective and green and is widely used to manufacture candles. Besides, Sebacic Acid is also used in plastics, hydraulic fluids, lubricants, plasticizers, personal care and cosmetics, and others and also used in the form of an intermediate for paintings, antiseptics, and aromatics.
Low pour points, high flash points, higher thermal stability, low temperature fluidity, and excellent lubricity are some of the key attributes of sebacic acid. In cosmetic products, it acts as a pH corrector, for anti-corrosion and lubricants, it is used for producing salt derivatives, which can be used as a coolant for truck engines, automotive, and aircraft, and in plastics, it is used for offering lower melting temperature and better flexibility.
Various factors are propelling the Sebacic Acid Market Growth. These factors, as per the new Market Research Future (MRFR) report, include increasing awareness about skincare products and personal health, increasing population, favorable government regulations worldwide, burgeoning demand for biodegradable polymers owing to their eco-friendly nature, durability, and excellent flexibility, and growing demand from packaging, construction, pharmaceuticals, and automotive industry.
On the flip side, a rise in environmental and health concerns and availability of substitutes such as azelaic acid and adipic acid are factors that may hamper the Sebacic Acid Market Growth over the forecast period.
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Key Players:
Major Players Profiled in the Sebacic Acid Market Report include Inolex incorporation (US), Croda International Plc (UK), Shanxi Zhengang Chemical Co., Ltd. (China), Tianxing Biotechnology Co., Ltd. (China), Sebacic India Limited (India), Casda biomaterials co. Ltd (China), HOKOKU KOGYO Co. Ltd (Japan), EVONIK (Germany), and Akrema Group (France). Key players have used different strategies such as mergers and acquisitions, research and developments, collaborations, expansions, and more to create a foothold in the market.
Industry News:
Feb 2019: Sebacic Oman Refinery has stepped into the production stage to produce Sebacic Acid post completion of the preliminary tests. This refinery will be the foremost industrial project in the heavy industry zone that will operate in SEZD (special economic zone in Duqm).
Market Segmentation:
The MRFR report provides an all-inclusive segmental analysis of the Sebacic Acid Market on the basis of Application.
Based on Application, the Sebacic Acid Market is segmented into hydraulic fluids, candles, textiles, paints and coatings, chemical intermediates, adhesives, solvents, plasticizers, greases, lubricants, personal care and cosmetics, and others. Of these, the cosmetics segment will have the largest share in the market over the forecast period. This is owing to the fact that Sebacic Acid has an extensive range of applications and is a key ingredient in various products where it is used as a fragrance enhancer, firm filming agent, and a pH adjuster.
Regional Analysis:
By Region, the Sebacic Acid Market Report covers the latest trends and growth opportunities across the Asia Pacific, Latin America, North America, Europe, and the Middle East and Africa. Of these, the APAC region will have the lion’s share in the market over the forecast period. This is chiefly on account of industrial development, growing urbanization, increasing use in paints and coatings, and growing demand for personal and cosmetic products.
Moreover, increasing investment in the building and construction sector, growing demand for adhesives, increasing applications of PVC coatings, and growing investment in the retail sector are also adding to the market growth.
The Sebacic Acid Market is Europe and North America is predicted to have a steady growth over the forecast period. Factors aiding growth in these regions include booming automobile, construction, and personal care industry, and growing applications such as lubricants, paints and coatings, adhesives, and plasticizers.
The Sebacic Acid Market in the MEA is predicted to have a positive growth over the forecast period. The increasing oil and gas activities are predicted to increase the demand for Sebacic Acid due to its increasing use in the biding of oil.
Browse Key Industry Insights spread across 139 pages with 24 market data tables & 8 figures & charts from the report, “Sebacic Acid Market Information- by Application (personal care & cosmetics, lubricants, textiles, household care, paints & coatings, plasticizers) and Region – Growth Potential, Price Trends, Competitive Market Share & Forecast 2023” in detail along with the table of contents: https://www.marketresearchfuture.com/reports/sebacic-acid-market-999
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